Lack of finance or funding and high costs of borrowing are some of the most common reasons for small businesses failing. Small businesses in the early stages of development may have difficulty securing funding to launch a new product, expand, or cover continuing marketing expenses.

Minakshi Miglani, a finance whiz noticed that businesses needed sponsors or investors to keep their business live and decided to help small businesses overcome common financing challenges. She introduced the business model of Nimai Management Consultants to Qatar, which educates corporates on how debt can support their business to grow and how costs of borrowing can be reduced. Minakshi currently serves as the Director of Nimai Management Consultants LLC (a QFC registered firm), a financial consulting firm that provides clients with professional financial consulting and advice. She leads the company’s Qatar operations and works closely with Nimai Dubai's leadership team to grow the business in the region.

The Women Entrepreneur Team got the opportunity to have a conversation with Minakshi and learn about her expertise in terms of assisting businesses in overcome challenges faced and the experience she brings on to the table. Here are choice excerpts from the conversation.

Give us a brief overview of Nimai Management Consultants. What are some important features about your expertise as a business?

Nimai Management Consultants is a network of consulting firms that assists clients in arranging and procuring working capital services such as project financing, capex financing, and trade finance. Our expertise adds value by designing custom made facilities that meet the needs of the client. We have built a strong network with banks, fund houses, and financial institutions around the world over the years, allowing us to have a global reach.

I oversee the Qatar team and have significant corporate finance knowledge and experience. I developed the market for the management from the ground up and met thousands of professional, which helped me in creating good client base. We recently introduced 360tf.trade, a FinTech platform that automates the largely manual process of trade finance. As I was involved in the creation of two distinct businesses back to back, I consider myself a serial entrepreneur.

Take us through the prior industry experience that you bring to the table. What motivated you to venture into the field of business management & finance?

I earned my bachelor's degree in Finance and Commerce from Nagpur University. I studied corporate finance at a global premier management (IIM Bangalore) school to hone my skills on the consulting side of the business, which truly enabled me to equip myself with professional knowledge. Then I completed a Wharton School entrepreneurial course. Both of these courses broadened my knowledge and improved my ability to assist my clients.

I've always had an entrepreneurial approach since the beginning of my career. I always wanted to look into methods that support businesses and assist them in overcoming the challenges they face. Following my education, I saw that many firms are experiencing financial difficulties. Small enterprises did not receive much help from their sponsors or investors. As a result, I decided to look into this business model, Nimai Management Consultants where we can educate corporates on how to gain support from the bank and reduce cost of financing from existing banking facilities.

Tell us about the various roles and responsibilities that you currently shoulder at Nimai Management Consultants? What are some of the most critical business challenges that you face in your current role?

Currently, I am the Director of Nimai Management Consultants Qatar, and I am also the Senior Vice President and Head of Coverage at 360tf.trade. We were the pioneers to introduce a number of new products into the Qatar market. It was challenging for us to educate and gain client confidence in these terms because trade finance and document credit have never been in Qatari markets, and individuals do not like to adopt innovative products here.

Nimai began in Qatar in 2016, and after a blockade in June of that year, things became extremely unpleasant. As we were settling in, a global pandemic struck. Things were quite difficult at the time. Another obstacle I faced, like any other woman entrepreneur, was gender inequality. As is the case with any new entity or product, People were also skeptical about Nimai in the beginning, and they doubted my success and performance. It was painful at first, but I've grown out of it and am now capable of handling anything.

Accepting all of life's challenges and choosing to keep moving forward is what entrepreneurship is about. Despite the numerous hurdles I've experienced, I've adhered to this mantra.

“Accepting all of life's challenges and choosing to keep moving forward is what entrepreneurship is about”

What have been some of the most significant milestones that you have achieved in your journey as a business leader so far? What has been the driving force behind your growth and success as a business leader?

One of the most significant milestone I have achieved so far is getting recognized for my hard work and dedication. Whether it's generating new capital or lowering their existing borrowing costs, the industry and clients come to me for financial advice. Now, due to the name earned in the market, as a patient finds a suitable expert doctor without much advertisements, many of our clients call us or refer new clients to us without any marketing efforts.

The grace and blessings of Almighty, as well as the support of my better half and children, have been biggest driving force behind my success. There is no question about support of my parents and In-laws they have given me immeasurable number of blessings throughout my journey. I am also thankful for the Partners who had faith in my abilities.

How do you keep yourself well aligned with the periodic evolutions occurring in the finance industry? What would your advice be to young women aspiring to become business leaders and entrepreneurs in the future?

Only thing that is constant is the change. As a result of the transformation, we are all learning something new every day. Traditional ways of doing things are giving way to new ones, and we've also shifted from the traditional method of trade finance to the digital platform, 360tf.trade, which our clients and relationship banks have welcomed and appreciated.

I regularly keep up with the latest developments by following the top leaders on social media. Every day, I am inspired by certain leaders. So I read their autobiographies and biographies, and I learn something new every day, reading books adds value in my life.

We women need to recognize our own strength, be determined, and persistent in accomplishing our goals. We will have to face numerous obstacles on our way; but remember the dream you have to achieve, and with unwavering determination, we will undoubtedly achieve it.

You have the power to change the world if you believe in yourself.

Minakshi Miglani, Director, Nimai Management Consultants

Minakshi is currently serving as the Director of Nimai Management Consultants LLC in Qatar She is heading the Qatar operations and works closely with the Dubai office.